FactSet

Carbon per million dollars of revenue. The legacy industry-standard reference (CDP, MSCI). Useful for cross-sector context, but distorted by margin — high-margin firms appear artificially efficient. Read alongside the operational and asset intensities for the full picture.

OpEx (operating expenditure) is the running cost of the business — staff, services, energy, materials. This shows how carbon-intensive operations are per million dollars of spend. Removes the margin distortion that revenue-based ratios introduce.

EVIC (Enterprise Value Including Cash) is the firm's total capital footprint — equity + debt + cash + minority interest. The EU's standard intensity measure (SFDR PAI 3) — answers: how much carbon does each million of capital deployed in this business produce?

PP&E (Property, Plant & Equipment) plus leased real-estate assets is the firm's physical infrastructure on the balance sheet. This shows the carbon intensity of that physical footprint — uses Scope 1+2+3 for consistency with the other headline intensities. Surfaces stranded-asset risk for asset-heavy firms.

FactSet is exploring renewable energy opportunities to reduce GHG emissions. In fiscal 2023, FactSet procured renewable energy credits (RECs) to reduce scope 2 emissions for fiscal 2022. As a lessee at all 34 office locations, FactSet has limited access to on-site renewable assets. Policy is to purchase only Green-e Certified RECs (or equivalent) to ensure power is directly generated from renewable assets and retired after purchase. The Paris 32 Rue Blanche office is connected to Fraîcheur de Paris urban cooling network powered by 100% renewable electricity.

FactSet defines net-zero as reducing emissions as close to zero as possible, then offsetting any residual emissions. The climate transition plan being developed aims at reducing emissions to as close to zero as possible, then offsetting residual emissions. No specific durable removal pathways (DAC, BECCS, biochar) are discussed; reliance is on future offsetting strategy.

• Employee transportation in Hyderabad & Manila

  The two primary sources of scope 1 and 2 emissions are electricity consumption at office locations and the transportation FactSet provides to employees in Hyderabad, India and Manila, Philippines, which combined account for 80% of scope 1 and 2 emissions.

• Cloud migration for product energy efficiency

  FactSet is continuing its migration to cloud services to enhance energy efficiency for its product offering, part of its reduction strategy to explore alternative ways to reduce emissions within facilities and services.

• Real estate portfolio optimization & green buildings

  FactSet is critically analyzing its real estate portfolio and reducing it as appropriate. In FY23, consolidated three Paris offices into a single 32 Rue Blanche location, eliminating redundant desks via hybrid work model. Of 34 global locations, 13 buildings have obtained LEED or LEED-equivalent (BREEAM) certification. Pursuing green lease opportunities and energy consumption reductions.

• Employee commuting & business travel

  Employee commuting (cat 7) and business travel (cat 6) represented 16% and 3% respectively of FY23 scope 3 emissions. The hybrid work model has reduced office footprints. Employee commuting emissions dropped from 12,750 tCO2e in FY22 to 6,093 tCO2e in FY23.

• Supplier engagement on purchased goods & services

  Purchased goods and services represent 75% of FactSet's scope 3 emissions (FY23). FactSet rolled out a sustainability-focused supplier questionnaire, adopted a Sustainable Procurement Policy, and is prioritizing vendors representing largest spend areas and greatest emissions intensity. Will continue collaborating with suppliers to identify Scope 3 reduction opportunities in FY24.